Chevron Corporation $CVX Shares Sold by Courier Capital LLC

Courier Capital LLC reduced its holdings in shares of Chevron Corporation (NYSE:CVX) by 14.4% in the 2nd quarter, HoldingsChannel reports. The fund owned 53,129 shares of the oil and gas company’s stock after selling 8,943 shares during the quarter. Courier Capital LLC’s holdings in Chevron were worth $7,607,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Harvest Fund Management Co. Ltd raised its stake in Chevron by 420.7% during the 1st quarter. Harvest Fund Management Co. Ltd now owns 151 shares of the oil and gas company’s stock valued at $25,000 after acquiring an additional 122 shares during the last quarter. Elequin Capital LP purchased a new stake in Chevron during the 1st quarter valued at approximately $31,000. Cloud Capital Management LLC purchased a new stake in Chevron during the 1st quarter valued at approximately $39,000. Investment Management Corp VA ADV raised its stake in Chevron by 171.3% during the 1st quarter. Investment Management Corp VA ADV now owns 236 shares of the oil and gas company’s stock valued at $39,000 after acquiring an additional 149 shares during the last quarter. Finally, GFG Capital LLC purchased a new stake in Chevron during the 2nd quarter valued at approximately $42,000. 72.42% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Chevron

In other Chevron news, VP Alana K. Knowles sold 3,978 shares of the business’s stock in a transaction dated Friday, August 29th. The stock was sold at an average price of $160.00, for a total transaction of $636,480.00. Following the completion of the sale, the vice president owned 1,181 shares of the company’s stock, valued at approximately $188,960. The trade was a 77.11% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director John B. Hess sold 375,000 shares of the firm’s stock in a transaction dated Friday, August 22nd. The stock was sold at an average price of $158.30, for a total value of $59,362,500.00. Following the completion of the transaction, the director owned 1,403,045 shares in the company, valued at approximately $222,102,023.50. This trade represents a 21.09% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.20% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the company. Evercore ISI reiterated an “outperform” rating and set a $180.00 target price on shares of Chevron in a research report on Thursday, July 31st. Weiss Ratings reiterated a “hold (c)” rating on shares of Chevron in a research report on Wednesday, October 8th. Melius Research initiated coverage on Chevron in a research report on Wednesday, August 20th. They set a “hold” rating and a $155.00 target price on the stock. Melius began coverage on Chevron in a research note on Wednesday, August 20th. They issued a “hold” rating and a $155.00 price objective for the company. Finally, Piper Sandler lifted their price objective on Chevron from $164.00 to $168.00 and gave the stock an “overweight” rating in a report on Monday, August 18th. Eleven research analysts have rated the stock with a Buy rating, nine have given a Hold rating and three have issued a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $165.40.

Chevron Price Performance

Shares of NYSE:CVX opened at $151.86 on Tuesday. The business’s fifty day moving average price is $156.12 and its two-hundred day moving average price is $148.31. The stock has a market cap of $262.42 billion, a PE ratio of 19.54, a price-to-earnings-growth ratio of 1.93 and a beta of 0.84. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.74 and a current ratio of 1.00. Chevron Corporation has a one year low of $132.04 and a one year high of $168.96.

Chevron (NYSE:CVX) last issued its quarterly earnings results on Friday, August 1st. The oil and gas company reported $1.77 earnings per share for the quarter, topping analysts’ consensus estimates of $1.58 by $0.19. Chevron had a return on equity of 9.90% and a net margin of 7.02%.The company had revenue of $44.82 billion for the quarter, compared to analyst estimates of $44.59 billion. During the same quarter in the prior year, the company posted $2.55 EPS. The business’s revenue for the quarter was down 12.4% compared to the same quarter last year. On average, analysts forecast that Chevron Corporation will post 10.79 EPS for the current fiscal year.

Chevron Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, September 10th. Investors of record on Tuesday, August 19th were issued a $1.71 dividend. The ex-dividend date was Tuesday, August 19th. This represents a $6.84 dividend on an annualized basis and a yield of 4.5%. Chevron’s dividend payout ratio (DPR) is presently 88.03%.

Chevron Profile

Chevron Corporation, through its subsidiaries, engages in the integrated energy and chemicals operations in the United States and internationally. The company operates in two segments, Upstream and Downstream. The Upstream segment is involved in the exploration, development, production, and transportation of crude oil and natural gas; processing, liquefaction, transportation, and regasification of liquefied natural gas; transportation of crude oil through pipelines; transportation, storage, and marketing of natural gas; and carbon capture and storage, as well as a gas-to-liquids plant.